« previous next »

Author Question: Why does demand not change when the price of a good changes with no change in the other influences ... (Read 60 times)

ap345

  • Hero Member
  • *****
  • Posts: 537
on: Jun 29, 2018
Why does demand not change when the price of a good changes with no change in the other influences on buying plans?
 
  What will be an ideal response?

Question 2

What is meant by market failure?
 
  What will be an ideal response?


verrinzo

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jun 29, 2018
Answer to Question 1

If the price of a good falls and nothing else changes, then the quantity of the good demanded increases and there is a movement down along the demand curve, but the demand for the good remains unchanged and the demand curve does not shift.

Answer to Question 2

Market failure occurs when resources are misallocated, or allocated inefficiently. The result is waste or lost value.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Drag the labels to indicate the change in the size of the reservoir. . . Drag the labels to indicate the change in the size of the reservoir. . .
The second half of life brings a change from outward to inward concerns and from physical to ... The second half of life brings a change from outward to inward concerns and from physical to ...
Marx's Model of Historical Change Marx's Model of Historical Change
By 2100, significant change will be in the far northern latitudes, parts of Asia, and Sub-Saharan By 2100, significant change will be in the far northern latitudes, parts of Asia, and Sub-Saharan
Most Canadian seniors rated their health as good to excellent. Most Canadian seniors rated their health as good to excellent.
A single-nucleotide change in the DNA encoding -globin A single-nucleotide change in the DNA encoding -globin
Video: Protein Structure - Primary, Secondary, Tertiary and Quaternary

For a complete list of videos, visit our video library